SiriusPoint has begun a new partnership with Applied Surety Underwriters to provide capacity for their surety bond program. Leveraging our existing surety capabilities, we’ve collaborated with Applied Surety to launch in excellent market circumstances that provide our new partnership with excellent opportunity.
The partnership with SiriusPoint gives Applied Surety Underwriters additional opportunities to grow its North American business with greatly expanded USA Treasury capacity. Applied Surety serves the surety needs of corporations, not-for-profit organizations and individuals. Applied Surety can support single bonds up to $50 million and aggregate programs up to $150 million.
Based in Houston, Applied Surety is an affiliate of global risk services firm Applied Underwriters®, which operates widely throughout the US, UK, EU and Middle East.
Patrick Charles, Head of North American Insurance at SiriusPoint, said: “ASU’s talented team and business strategy complement SiriusPoint’s ambition to partner with expert underwriting teams which have strong distribution and operate in focused market niches. ASU is the newest member of SiriusPoint’s growing portfolio of strategic partnerships in the North American insurance market.”
Applied Surety President Joshua Betz said: “We are delighted with our exclusive relationship with SiriusPoint and the mutual benefits implicit in the growth opportunity we have developed. This is Applied Surety’s first major partnership, and it signifies our resourcefulness and continuing success.”
